Mark Borzomato takes over at the Liverpool-based loan and equity fund provider five months after the sudden departure of previous chief executive Lisa Greenhalgh. Tony McDonough reports
Liverpool-based business loan and equity fund provider MSIF has appointed Mark Borzomato as its new boss.
Mr Borzomato, who has more than 24 years’ corporate advisory and investment experience, succeeds the former CEO of the business, Lisa Greenhalgh, who departed in May 2019 by “mutual consent”.
His appointment was announced following a deal to merge MSIF’s regulated fund management subsidiary Alliance Fund Managers (AFM), with rival investment company SPARK Impact, of which Mr Borzomato is a director.
As part of that deal he becomes chief executive specifically of AFM but as that entity manages all MSIF’s funds on its behalf he is effectively chief executive of the whole organisation.
Mr Borzomato, who has worked for MSIF twice before, said: “I am delighted to be back and incredibly excited to be leading this fantastic organisation into a new era.
“I am looking forward to working with colleagues old and new to carry on this vital work at a time of unprecedented uncertainty but also tremendous opportunity for small businesses.”
MSIF was formed 25 years ago as Merseyside Special Investment fund and was backed with EU Objective One cash and tasked with offering funding to SMEs in Merseyside or attract those from outside to relocate to the area. Thanks to the success of its investments it has now become self-sustaining.
During those 25 years it supported more than 2,250 business and provided over £190m of funding. The anniversary is being celebrated this week at a gala dinner for more than 400 guests at the Titanic Hotel in Liverpool where Mr Borzomato will be formally introduced by the chairman of MSIF, John O’Brien.
As part of the deal, John Walker, who spent more than 20 years in senior roles at Equistone – one of Europe’s leading private equity firms – will become chairman of AFM reporting to the MSIF board.
And Kanesh Khilosia, chief executive at Armstrong Craven, the private equity-backed North West-based people intelligence consultancy, has also joined AFM’s board as a non-executive director.
John O’Brien added: “We are proud of what we have achieved as a team over the last 25 years and are looking to the future with confidence, with a strengthened board and in Mark a focused and passionate leader determined to bring impetus and ideas to grow the business over the next 25 years.”